- Wen Acquisition Corp has priced its IPO at $261 million, offering 26.1 million units at $10.00 each.
- The units, trading on Nasdaq as "WENNU," will commence on May 16, 2025, with each unit consisting of one Class A share and half a warrant.
- The company targets fintech sector infrastructure, focusing on digital asset and blockchain integration.
Wen Acquisition Corp, a special purpose acquisition company (SPAC), has announced the pricing of its initial public offering, which totals $261 million. The company is offering 26.1 million units at a price of $10.00 per unit. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. A whole warrant will allow the holder to purchase an additional share at a price of $11.50.
Trading for Wen Acquisition Corp units will start on May 16, 2025, on Nasdaq under the ticker symbol "WENNU." Once separate trading of the securities begins, the Class A ordinary shares will be listed under the symbol "WENN," and the warrants will be listed as "WENNW."
The company's IPO provides a robust capital foundation for its strategic initiative to acquire infrastructure companies in the financial technology sector. The focus is particularly on firms that facilitate digital asset enablement and blockchain integration into traditional financial systems. This positions Wen Acquisition Corp at the forefront of bridging emerging technologies with existing financial frameworks.
The management team of Wen Acquisition Corp is led by CEO Julian M. Sevillano and CFO Jurgen van de Vyver. Cantor Fitzgerald & Co. serves as the sole book-running manager. The underwriters hold a 45-day option to purchase up to an additional 3,915,000 units to cover any over-allotments, which could potentially increase the IPO total to $300.15 million.
This IPO is particularly significant as it reflects sustained institutional interest in the integration of digital assets and blockchain technologies, offering substantial acquisition potential within this specialized sector. With the capital raised, Wen Acquisition Corp aims to position itself effectively in the high-growth fintech and blockchain infrastructure market.
